Equities accentuate the positive for May

http://www.ft.com/intl/cms/s/0/d72d63bc-2325-11e6-aa98-db1e01fabc0c.html#axzz49uakPyUz

FT. 20160527.


This week many stock market benchmarks have turned positive for the month,

.... so what has really changed in the space of a few short days?

1.  ...thanks to some robust US housing datas that prime the Fed's narrative of an improving economy, investors evidently feel a lot more comfortable about a nudge higher in overnight interest rate this summer.

2. The feel good vibes are not just confirmed to the US

- Another greek debt deal has bolstered equity markets on the other side of Atlantic.

- A number of EU benchmarks turned positive for May while the UK;s FTSE is up more than 2 percent - mirroring the growing support for a remain vote in Brexit opinion polls.

3. One crucial element has been the rise of Oil

 - buoyed by the expectation of a better balance between supply and demand in the coming months.

- Once more we are seeing how markets value a higher oil price in terms of providing breathing room for highly indebted oil and gas driller

4. Leading the charge for the S&P in May are three sectors that comprise half of the S&P, technology, financials and healthcare.

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